A Hawaii agency has approved a development agreement with a New York developer to build a low-income Honolulu rental project that will include smaller, efficient units such as micro-units.
The Hawaii Community Development Authority, which regulates development in the Honolulu neighborhood of Kakaako, on Tuesday voted to approve its development agreement with Bronx Pro Group LLC.
The key approval gives the developer momentum as it finalizes financing for its $33-million Nohana Hale project, which includes 105 low-income, energy efficient micro-units in two separate 17-story towers set upon a two-level podium that will house the lobby, living room, community spaces and management offices.
The rental project will be built with a panelized building technology that is new to Hawaii. The building’s components will be delivered to Hawaii from the Mainland and assembled in the state.
Bronx Pro Group has already begun pre-development work on the 10,400-square-foot parcel at 630 Cooke St. between Sunshine Scuba and Baby Emporium that’s currently being used as a surface parking lot.
Ron Steitzer, senior project manager for Honolulu-based Construction Management & Development Inc., a consultant for the developer, told PBN that construction on the project could start in 2017 and be completed in 18 to 24 months.
Nohana Hale will be marketed to renters earning 60 percent area median income or less, with 10 percent of the units set aside for renters earning 30 percent of the area median income or less.
This would equate to a single person making no more than $40,260 or $20,150 annually, respectively. The developer said that, in the future if current zoning is adjusted, additional units and mixes may be added.
In June 2015, the HCDA chose Bronx Pro’s development team of EAH Housing, Sustainable Living Innovations LLC, Construction Management & Development Hawaii LLC and Swinerton Builders to develop the project.
Pacific Business News
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